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Property profile & analytics
OFF-MARKET
Estimated value
$1,115,000
Strip malls
3940 Miller Rd Scottsdale, AZ 85251-4539
Entity Owned
22-yr Hold
Free & Clear
Property ID
US07-0991382
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1990
Construction
STEEL FRAME
Total area
3,280 SF
Lot
0.24 ac (10,669 SF)
Zoning code
D/OR-1.5
APN
130-25-097
UPID
US07-0991382
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Elite Car Dealership Scottsdale AZ Car Dealership
-
Downtown Scottsdale Hair & Nails Nail Salon
-
Style by Jen Hair Salon
-
Stone Creations Inc Building Supply Construction Company
-
Elite Car Dealership Scootsdale AZ Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.12M
Owner & transaction history
Nolte Group LLC · 22 yrs held
Nolte Group LLC
since 2003
1 recorded transaction
Zoning & alternative use
D/OR-1.5 · Scottsdale, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.6M
+126.0%
Auto repair, garage
$1.4M
+90.4%
Office building
$1.2M
+73.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Scottsdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Scottsdale submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$710,000
Current use
COMMERCIAL (GENERAL)
$1,605,000
Change: +126% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,350,000
Change: +90% · Conversion: Difficult
OFFICE BUILDING
$1,235,000
Change: +74% · Conversion: Moderate
MEDICAL BUILDING
$1,145,000
Change: +61% · Conversion: Difficult
Blend value · Realmo final
$1.12M
Range $1.00M – $1.23M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$340 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,055
Tax year 2023
Assessed value
$215,818
Assessed 2024
Previous assessed
$187,170
+15.3% YoY
Effective rate
3.73%
On assessed value
Land market value
$993,200
Improvement market value
$314,788
Total market value
$1,307,988
Applied tax rate
481,400.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1990
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Stories
1
Rooms
5
Bathrooms
1
Total area
3,280 SF
Lot
0.24 ac (10,669 SF)
Zoning code
D/OR-1.5
APN
130-25-097
UPID
US07-0991382
Jurisdiction
MARICOPA
Zoning & alternative use
D/OR-1.5 · Scottsdale, AZ
Zoning D/OR-1.5 · permitted uses
D/OR-1.5 · Scottsdale, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Scottsdale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$710,000
COMMERCIAL (GENERAL)
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1990
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Rooms
5
Bathrooms
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
Nolte Group LLC
Entity
Free & Clear · 22 yrs held
Mailing address
11828 N 67TH ST, SCOTTSDALE, AZ 85254-5173
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2003
—
Nolte Group LLC
Nolte,paul L & Judith L
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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